Chesapeake Utilities Corp. (CPK) Shares Down 2.9%
Chesapeake Utilities Corp. (NYSE:CPK) fell 2.9% on Friday . The stock traded as low as $63.91 and last traded at $64.15, with a volume of 72,782 shares. The stock had previously closed at $66.06.
Several brokerages recently weighed in on CPK. Zacks Investment Research lowered Chesapeake Utilities Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Janney Montgomery Scott raised Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $59.00 to $71.00 in a report on Monday, August 8th. Hilliard Lyons raised Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Friday, June 24th. Finally, BB&T Corp. began coverage on Chesapeake Utilities Corp. in a research note on Wednesday, June 22nd. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Chesapeake Utilities Corp. currently has an average rating of “Hold” and a consensus target price of $72.00.
The company has a market capitalization of $988.33 million and a price-to-earnings ratio of 23.45. The company has a 50-day moving average of $65.17 and a 200 day moving average of $62.00.
Chesapeake Utilities Corp. (NYSE:CPK) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $102.30 million for the quarter, compared to the consensus estimate of $98.90 million. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Analysts expect that Chesapeake Utilities Corp. will post $2.90 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, September 13th.
In other news, insider John R. Schimkaitis sold 500 shares of the company’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $63.03, for a total transaction of $31,515.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
An institutional investor recently raised its position in Chesapeake Utilities Corp. stock. California Public Employees Retirement System raised its position in shares of Chesapeake Utilities Corp. (NYSE:CPK) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,902 shares of the company’s stock after buying an additional 1,600 shares during the period. California Public Employees Retirement System owned approximately 0.32% of Chesapeake Utilities Corp. worth $2,775,000 as of its most recent SEC filing.
Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company, through its operating divisions and subsidiaries, is engaged in regulated and unregulated energy businesses. It provides natural gas distribution and transmission, natural gas supply, gathering and processing, electric distribution and propane distribution service.
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